Mwananchi Credit has for the second successive year bagged an award as the best logbook financier in Kenya at the Automotive Industry Excellence Awards. The awards recognizes the effort of players in the automotive sector and awards the companies that have shown exemplary services to consumers.

Market leader in Car Financing

AWARD WINNER Best Logbook Financier 2020.

Mwananchi Credit has been recognized as a market leader in car financing in the year 2020 and the efforts by the company by continuing our lending even amidst the unprecedented Covid-19 pandemic.  This is a back to back win for them as they also emerged winners Last year as well. The company Director in receiving the award was full of praise for the employees who went above and beyond to make sure all our clients get their emergency loans on time. The Director also recognized the spirit shown by Kenyans in fighting the pandemic and abiding by the MoH guidelines.

Penalty Waivers & Loan Restructures

The company in its part played its part by offering customers up to 100% waivers on default charges during this difficult time. The General manager on his part stated that ” As clients we’re affected by the pandemic just like anyone else in the world, therefore punishing them for an unprecedented virus would have been wrong and unfair, our tagline is investor in people and at times like this we need to live by it”. Mwananchi credit waived penalties for 350 clients and restructured a further 200 loans giving customers longer repayment periods with lower installments.

Car Loan Requirements

If you have once or twice googled ‘log book loans Kenya’  or “car loans in Kenya” and own a private, commercial, or passenger service vehicle, you are eligible for a car loan at Mwananchi Credit. Yet, you need to meet the minimum requirements before getting approved. These requirements include;

  • Original car or motorbike logbook
  • KRA PIN of the applicant
  • Original national ID card of the applicant
  • Two passport size photos
  • Six months bank statement
  • Comprehensive insurance certificate cover

Quick Car Loans

Mwananchi credit offers car loans to individuals who own cars with valid logbooks. Our Car loans are offered at the most affordable interest rates at the market and with a repayment period of up to 48 months. Most of our customers are people looking for emergency loans to sort out situations that require fast solutions. Mwananchi credit stands out because of reasons like:

Loans in 6 Hours

MWANANCHI CREDIT TEAM
From L -R: Christine, Swaleh, Tom , Thomas, Ian.

If you apply for a car loan at Mwananchi credit, it should take you just 6 hours to get money in your account. From the point of contacting us, we give the client all the requirements we require after which the process starts.

3 Step Process

Our 3 step process makes sure we are efficient and still  do our due diligence. The process goes from valuation; where we send our valuers to value your car where you are in under an hour for the case of car loans, then documentation where you fill in all the documents needed in just one sitting and Disbursement; where we send the money to your account after confirming all bank details.

Affordable interest rates

Mwananchi offers affordable interest rates for our car loans. Our interest start from 1.5% are vary with every vehicle, putting in to account the year of manufacture of the vehicle and the repayment period of the loan applied.

Long Repayment Period

The repayment period for car loans in most micro finance companies is 12 months. Mwananchi credit offers logbook loans in up to 48 months. This gives customers ample time to repay their car loans.

Weekend Loans

Mwananchi credit offers a loan facility called weekend loans for all our existing customers. This facility is offered as a percentage of the initial loan and is repaid within a week. The facility is aimed to sort the additional financial needs for our existing customers.

 

 

 

 

 

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